Porsche chairman appointed CEO of VW Group

Sat, Sep 26, 2015, 11:15 AM

Frankfurt, Sep 26: The chairman of Porsche AG on Friday became CEO of the Volkswagen Group, which is caught in an emission cheating scandal.

The Supervisory Board held a meeting in its headquarters in Wolfsburg on Tuesday and decided to appoint Matthias Mueller, 62, as CEO Volkswagen AG with immediate effect, said a statement of the company.

Mueller will continue to act as chairman of Porsche AG until a successor has been found, it added. At a time when the scandal is still escalating, Mueller is expected to steer the car maker out of the current difficult situation, reported Xinhua.

"My most urgent task is to win back trust for the Volkswagen Group -- by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation," said Mueller.

"Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry," added Mueller.

"If we manage to achieve that then the Volkswagen Group with its innovative strength, its strong brands and above all its competent and highly motivated team has the opportunity to emerge from this crisis stronger than before," said Mueller.

According to the statement, Mueller who is also a member of Board of Management of Volkswagen AG will act as the CEO VW Group until the end of February 2020.